Stage Two: Analyzing the Competition and Yourself

You must have a plan that sees you exceed the competition, and you will need to take an honest look at your operation in order to do this. We can hide all kinds of things in an analysis to make things look better than they are. Be honest with yourself to protect the integrity of your business.

Some of the questions you will want to ask include:

  • What are your advantages?
  • What are your core competencies (the things you do well)?
  • What are your weaknesses?
  • Where are your shortcomings?
  • What can you do to capitalize on your strengths?
  • What can you do to exploit the competition’s weaknesses and shortcomings?